The Artificial Intelligence-Based Shoe Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence-Based Shoe Global Market Report 2024, The artificial intelligence-based shoes market size has grown exponentially in recent years. It will grow from $229.27 billion in 2023 to $277.26 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to rising demand for cloud integration, increasing complexity of it environments, cost efficiency and operational optimization, business process automation, globalization of businesses.
The artificial intelligence-based shoes market size is expected to see rapid growth in the next few years. It will grow to $551.86 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to ai and machine learning integration, security and compliance concerns, iot integration, real-time data integration, hybrid and multi-cloud integration. Major trends in the forecast period include cybersecurity integration, focus on user experience, technological advancements, event-driven architecture, low-code/no-code integration.
The growing popularity of sports activities is expected to propel the growth of the artificial intelligence-based shoes market going forward. Sports activities encompass a wide range of physical pursuits, including organized games, exercises, and competitions that involve physical exertion and skill. Artificial intelligence-based shoes are primarily used to enhance athlete performance through real-time data analysis and personalized adjustments during sports activities. For instance, in January 2022, according to Football Australia, an Australia-based governing body of football, total participation in outdoor football had increased from 1,181,931 to 1,421,804 participants nationwide in 2021, representing an increase of 20% year on year. Further, football engagement in schools increased by 151,088 (64%), with 44,380 of those students participating in sports at their schools and 116,882 participating in interschool competitions. Therefore, the growing popularity of sports activities is driving the growth of the artificial intelligence-based shoes market.
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The artificial intelligence-based shoe market covered in this report is segmented –
1) By Technology: Sensor Technology, Machine Learning And Artificial Intelligence, Algorithms, Connectivity
2) By Distribution Channels: Online Retail, Brick-And-Mortar Retail, Direct-To-Consumer (DTC)
3) By Application: Running And Athletic Shoes, Smart Casual And Sneakers, Medical And Therapeutic Shoes
4) By End-User: Athletes And Sports Enthusiasts, Fitness And Health Consumers, Casual And Fashion Users
Major companies operating in the artificial intelligence (AI)-based shoe market are focused on the development of adaptive artificial intelligence to gain a competitive edge in the market. Adaptive artificial intelligence in shoes enhances comfort and support through real-time adjustments based on the wearer’s movements and preferences. For instance, in October 2022, Shift Robotics, a US-based manufacturer of robotic shoes, launched Moonwalkers, the first-ever wearable mobility devices that allow one to walk at the speed of a run. They are designed with an adaptive AI drivetrain that increases walking speed by up to 250%. They are hands-free and use foot-activated gestures to toggle between shift and lock modes to go and stand still. They have an anti-lock internal brake feature that provides safety and control when using the device.
The artificial intelligence-based shoe market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence-Based Shoes Market Characteristics
3. Artificial Intelligence-Based Shoes Market Trends And Strategies
4. Artificial Intelligence-Based Shoes Market – Macro Economic Scenario
5. Global Artificial Intelligence-Based Shoes Market Size and Growth
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26. South America Artificial Intelligence-Based Shoes Market
27. Brazil Artificial Intelligence-Based Shoes Market
28. Middle East Artificial Intelligence-Based Shoes Market
29. Africa Artificial Intelligence-Based Shoes Market
30. Artificial Intelligence-Based Shoes Market Competitive Landscape And Company Profiles
Top Major Players:
- Nike Inc
- Adidas AG
- Puma SE
- Under Armour Inc
- Asics Corp
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